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  • Apache reports 34 percent growth in onshore North America liquids production in 2013
    édité le 14/02/2014 - Plus de news de "APACHE" - Voir la fiche entreprise de "APACHE"

Apache reports 34 percent growth in onshore North America liquids production in 2013
- Onshore North America liquids production increased 45,600 barrels per day in 2013
- 140 percent of 2013 production replaced through drilling
- 2014 quarterly dividend increased 25 percent to $0.25 per share
- Worldwide fourth-quarter production averaged 688,000 boe per day; 661,000 boe per day excluding noncontrolling interest
- Fourth-quarter GAAP earnings of 43 cents per diluted share/$174 million; adjusted earnings* of $1.57 per share/$631 million
- Fourth-quarter cash flow from operations of $2.5 billion; $2.1 billion before changes in working capital*
- 11.2 million shares repurchased for $1 billion during 2013

Apache Corporation announced full-year 2013 earnings of $2.2 billion or $5.50 per diluted common share and adjusted earnings,* which exclude certain items that impact the comparability of results, of $3.2 billion or $7.92 per share. In 2012, Apache reported earnings of $1.9 billion or $4.92 per diluted common share and adjusted earnings of $3.8 billion or $9.48 per share. Net cash provided by operating activities totaled approximately $9.8 billion in 2013, compared with $8.5 billion in the prior year, with cash from operations before changes in operating assets and liabilities* totaling $9.8 billion, compared with $10.3 billion in 2012.

Apache also reported that onshore North American liquids production increased 34 percent in 2013 and the company replaced 140 percent of 2013 production through drilling.

"Our strong performance is driven by predictable liquids production growth from our North American onshore assets combined with large free cash flow generation from our international operations," said G. Steven Farris, chairman and chief executive officer at Apache. "We increased onshore North America liquids production by 45,600 barrels per day through drilling in 2013, and we replaced 140 percent of worldwide production through the drill bit.

"We made significant strides in focusing our portfolio during the year, exiting production on the Gulf of Mexico Shelf, streamlining our Canada position and establishing our partnership with Sinopec in Egypt," Farris said. "The proceeds of these transactions - which together total approximately $7 billion - have provided the company with additional financial flexibility. The sale of our Argentina operations announced yesterday continues our decisive strategic steps in 2013."

About Apache

Apache Corporation (NYSE, Nasdaq: APA) is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom, Australia and Argentina.

Origine : Communiqué APACHE

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